Do Kwon Converted Millions in Illicit Funds to BTC, Robinhood Fined
Do Kwon Converted Millions in Illicit Funds to BTC, Robinhood Fined

Do Kwon Converted Millions in Illicit Funds to BTC, Robinhood Fined

• South Korean prosecutors identified $314.2 million in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates.
• Robinhood will pay up to $10.2 million in penalties for operational and technical failures that harmed main street investors.
• The deadline for Mt Gox creditors to provide their repayment information has passed, opening the window for repayments to be made.

Do Kwon Converted Millions in Illicit Funds to BTC

South Korean prosecutors identified $314.2 million in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates, out of which $69 million is directly linked to Kwon. He converted most of the illicit funds into Bitcoin using overseas crypto exchanges, so the assets tied to him are not recoverable or under South Korean jurisdiction.

Robinhood to Pay $10.2M in Penalties

Major US online trading platform Robinhood “will pay up to $10.2 million in penalties for operational and technical failures that harmed main street investors,” according to the USA, California Department of Financial Protection and Innovation (DFPI). The DFPI joined a multi-state settlement that followed a North American Securities Administrators Association (NASAA) investigation into the platform outages in March 2020.

Mt Gox Creditors Repayment Window Now Open

The deadline for Mt Gox creditors to provide their repayment information has passed, opening the window for repayments to be made, according to an April 7 letter from the exchange Trustee. The Trustee will carry out necessary preparations to make the repayments, coordinating with several financial institutions, including crypto exchanges, which will receive and distribute payments to creditors it said it may take some time before the repayment is commenced.

Thai Prime Minister Candidate Promises Digital Currency Stimulus Package

A candidate for Thailand’s prime minister position, Srettha Thavisin, promised every citizen 10,000 Thai Baht ($300) as an economic stimulus package via “digital currency” should his party win a general election in May..

ZkSync Found Elegant Solution To Unlock Frozen Contract On Era Network

ZkSync announced they found “an elegant solution” unlock ETH 921 stuck on Era network after Gemholic team reached out for support., requiring minimal changes in gas metering protocol but allowing full recovery of funds